The Japanese government has unveiled several regulations to promote the safe and secure use of Bitcoin in the country. The Financial Services Agency (FSA) regulates the use of Bitcoin and any other form of digital currency in Japan. In order to be legally compliant, companies that offer services related to Bitcoin, such as exchanges and wallets, must be registered with the FSA.
Furthermore, any company that is engaging in Bitcoin trading must be a member of the Japan Virtual Currency Exchange Association, a group of senior representatives of the country’s licensed cryptocurrency exchanges. This association works to prevent money laundering, fraud, and market manipulation by working with exchanges and regulators to ensure all transactions are legal.